Issuer: | AEP Transmission Company, LLC |
Expected Ratings*: | A2 (stable) by Moody’s Investors Service, Inc. A- (stable) by S&P Global Ratings, a division of S&P Global Inc. A (stable) by Fitch Ratings, Inc. |
Designation: | Senior Notes, Series M, due 2050 |
Principal Amount: | $525,000,000 |
Maturity Date: | April 1, 2050 |
Coupon: | 3.65% |
Interest Payment Dates: | April 1 and October 1 |
First Interest Payment Date: | October 1, 2020 |
Treasury Benchmark: | 2.375% due November 15, 2049 |
Treasury Yield: | 1.302% |
Reoffer Spread: | T+235 basis points |
Yield to Maturity: | 3.652% |
Price to Public: | 99.964% of the principal amount thereof |
Transaction Date: | March 30, 2020 |
Settlement Date: | April 1, 2020 (T+2) |
Redemption Terms: | |
Make-whole call: | Prior to October 1, 2049 at a discount rate of the Treasury Rate plus 40 basis points |
Par call: | On or after October 1, 2049 at par |
Minimum Denomination: | $2,000 and integral multiples of $1,000 in excess thereof |
CUSIP/ISIN: | 00115A AM1 / US00115AAM18 |
Joint Book-Running Managers: | Goldman Sachs & Co. LLC KeyBanc Capital Markets Inc. MUFG Securities Americas Inc. SMBC Nikko Securities America, Inc. U.S. Bancorp Investments, Inc. |